SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : The Source Information Mgmt Co.(SORC)

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Walk Softly who wrote (79)9/3/1998 10:45:00 AM
From: JanyBlueEyes  Read Replies (1) of 121
 
QUARTERLY RESULTS

The Source Information Management Company Announces Another Record Financial Performance

BusinessWire, Thursday, September 03, 1998 at 09:26

ST. LOUIS and HIGH POINT, N.C.--(BUSINESS WIRE)--Sept. 3, 1998--The Source Information
Management Company (NASDAQ:SORC) today announced its seventh successive record
quarter for net income
.

Net income for the second quarter ended July 31, 1998, was $790,786, a 137% increase
over second quarter of 1997 net income of $333,472.

This also represents a 9% sequential increase over the first quarter of 1998, which was
a strong quarter, reflecting extraordinary magazine sales due to publications dealing
with the death of Princess Diana.

The Company also announced today that it has entered into a contractual
relationship to provide retail display allowance services to Eckerd
Corporation. Eckerd operates over 2,500 stores.



Quarter Ended July 31, 1998 July 31, 1997

Revenues $3,580,588 $2,940,137
Net Income 790,786 333,472
Avg. Shares 9,238,183 5,890,443
Shr. Earns:
Net Income - Basic .09 .04
- Diluted .09 .04

Six Months Ended
Revenues $7,175,790 $5,459,668
Net Income 1,517,415 589,598
Avg. Shares 8,865,692 5,857,698
Shr. Earns:
Net Income - Basic .18 .08
- Diluted .17 .08

Condensed Summary Balance Sheet at July 31, 1998
Current Assets $23,637,000
Non-current Assets 6,660,489
Total Assets 30,297,490

Current Liabilities 5,723,762
Non-current Liabilities 2,496,599
Total Liabilities 8,220,361

Equity $22,077,129

The information contained in this press release may include statements
regarding matters
which are not historical facts (including statements regarding the plans, beliefs or
expectations of the Company) which are forward-looking statements.......

The Source Information Management Company is a leading provider
of periodical information and related marketing services to the majority of retail chains
in the grocery, convenience, mass merchandise, and pharmacy industries.

Their integrated software system is designed to efficiently and accurately
monitor sales of thousands of high volume consumer products primarily to optimize
and collect sales incentive payments offered by manufacturers.

CONTACT: The Source Information Management Company, St. Louis
W. Brian Rodgers, 314/995-9040
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext